What can the Growth Guarantee Scheme be used for?

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Managing cash flow

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Covering overheads

Equipment & machinery

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Inventory & materials

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Technology upgrades

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Marketing & advertising

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Refinancing existing debt

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Commercial rent

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Staff salaries

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Unexpected costs

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What is the Growth Guarantee Scheme?

The UK government is extending its support for SMEs with the new Growth Guarantee Scheme (GGS), launching on 1st July 2024. Announced in the Spring 2024 Budget, the GGS is an extension of the Recovery Loan Scheme, ensuring continued financial support for businesses across the UK.

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What can the Growth Guarantee Scheme be used for?

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Managing cash flow

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Covering overheads

Equipment & machinery

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Inventory & materials

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Technology upgrades

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Marketing & advertising

green-check

Refinancing existing debt

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Commercial rent

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Staff salaries

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Unexpected costs

See our client success stories Browse Millbrook's success stories - arrow icon

What are the benefits of the Growth Guarantee Scheme?

Whether your goal is to expand, innovate, or stabilise your operations, the Growth Guarantee Scheme offers flexible terms and competitive rates tailored to your specific needs.

With our streamlined business loan application process and dedicated team of financial experts, securing the funds you require has never been easier. Millbrook Business Finance can be the partner to guide your business on the road to recovery and the path to future success.

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Additional funding option

The scheme is an additional source of funding for businesses who've been adversely affected by the pandemic, making it easier to obtain financing.

Flexible financing

There are a range of financing options with different interest rates and repayment terms, enabling businesses to choose a loan that fits their specific requirements. Borrow up to £2 million in Great Britain and £1 million in Northern Ireland.

Reduced costs

The UK government supports this scheme with a 70% guarantee to lenders, enhancing the chances of securing favourable loan terms.

Longer repayment terms

You can enjoy repayment terms of up to six years, providing flexibility and ease in managing your business finances.

Versatile use of funds

Get support for a wide range of business purposes, including managing cash flow, investment and growth, and refinancing existing debt.

Improved cash flow

Avoid cash flow shortages and receive much-needed financial relief to support your business through challenging times.

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Helping businesses like yours

 

We understand building a successful business can take years of dedication, be a lifelong dream or require a lightbulb moment to make it a reality. We focus on your finance, so you can make the magic happen.

£325k arranged over time for a recovering medical practice

A medical practice needed CBILs funding to weather the pandemic and has since returned for two further loans to aid their future expansion.

white-check Short term loans paid out in just 24 hours!
white-check Our terms were better than those provided by other brokers
white-check Client has returned for funding on two further occasions

TONY HORNE

Senior Business Finance Specialist

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We have a high level of criteria knowledge, meaning we can often secure better terms than other brokers. It's a privilege having repeat clients and gaining their trust in helping them to take their business to the next level.

TONY HORNE

Senior Business Finance Specialist

Tony Horne - Senior Business Finance Specialist at Millbrook

Why Millbrook Business Finance is different

 

The Recovery Loan Scheme provides businesses with the necessary funds to thrive with extended repayment terms.

Loan facility icon

Up to £2 million
loan facility

Finance access icon

Wide range
of products

Finance term length icon

Term length - 3
months up to 6 years

Finance availability icon

Available in addition to
CBILS, CLBILS & BBLS

Interest fees icon

Interest fees vary by
lender

Personal guarantees icon

Personal guarantees taken
at the lender’s discretion

Apply now for the Growth Guarantee Scheme

 

Give your business the boost it needs to recover and thrive. Our finance experts look forward to securing the most suitable business finance solution.

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Need a different business finance solution?

Millbrook offers more than just commercial loans. We have extensive and flexible business finance options to meet any funding need. Browse our other financial products or head to our solutions overview page.

BUSINESS LOANS

Get fast unsecured and secured business loans from £25k–£25m.

check-dark-green For any business purpose
check-dark-green Up to 10 years repayment terms
check-dark-green Funding approved within 8 hours
Learn more

RECOVERY LOAN SCHEME

Recover from the pandemic with this government-backed initiative.

check-dark-green 70% government backed
check-dark-green Up to £2m per business
check-dark-green Available in addition to CBILs & BBLs
Learn more

ASSET & EQUIPMENT FINANCE

Support your business growth without impacting your cash flow.

check-dark-green Purchase any asset
check-dark-green Simple application process
check-dark-green Repayment terms up to 7 years
Learn more

VEHICLE FINANCE

Fund any vehicle purchases, from vans and lorries to supercars.

check-dark-green Flexible deposits available
check-dark-green Tailored balloon payments
check-dark-green Hire purchase, lease or refinance
Learn more

REFINANCE

Release cash equity from equipment or obtain better terms on existing finance agreements.

check-dark-green Release cash from your equipment
check-dark-green Obtain improved finance terms
check-dark-green Great for debt consolidation
Learn more

MERCHANT CASH ADVANCE

Quickly raise working capital against your company's card sales.

check-dark-green No interest rate or fixed repayments
check-dark-green Borrow up to double your monthly card sales
check-dark-green 90% approval rate
Learn more

COMMERCIAL PROPERTY FINANCE

Get quick access to property-related finance.

check-dark-green Repayment up to 30 years
check-dark-green Interest-only products available
check-dark-green 80% LTV or 100% with security
Learn more

INVOICE FINANCE

Unlock funds tied up in outstanding invoices.

check-dark-green Up to 90% of invoices’ value
check-dark-green Your facility grows with you
check-dark-green Fast and simple to release cash
Learn more

Need help choosing the right finance solution for your business?

Business finance can be complicated. To help you make sense of the options available, we've created this handy interactive Business Finance Checklist.

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